Value-Adding in Resources Fund

An Albanese Labor Government will expand our mining science technology capability and ensure a greater share of our raw materials are processed here through the $1 billion Value-Adding in Resources Fund.

Why do we need this?

Australian resources and energy exports are expected to reach a record $425 billion in 2021-22. But most of the resources extracted in Australia are processed overseas. Meaning we miss out on jobs and economic opportunity.

Value-adding in resources offers opportunities to expand our mining science technology capabilities and ensure a greater share of the raw materials we extract are processed here, for example, high purity alumina from red mud in bauxite processing.

Exports of Australian lithium are projected to triple by 2026-27, but we do not have the value-add capability to match the coming production increase.

The details

Labor will deliver $1 billion in investment through loans, equity and guarantees for businesses in resources value-adding and mining science. This has the potential to unlock more investment boosted through partnerships with institutional investors and is consistent with the transition to net zero by 2050.

The $15 billion National Reconstruction Fund is the first step in Labor’s plan to rebuild Australia’s industrial base. Labor’s commitment to value-adding and mining science builds on investment priorities across the National Reconstruction Fund. This includes $3 billion already announced for green metals clean energy component manufacturing, hydrogen electrolysers and fuel switching, as part of Labor’s Powering Australia Plan.

The National Reconstruction Fund mission is to:

  • Create secure well-paid jobs.
  • Build on our national strengths, because we are a resource rich nation.
  • Diversify Australia’s industrial base so businesses can grow and sustain well-paid secure jobs.
  • Develop our national sovereign capability.
  • Drive regional economic diversification and development in our regions.

The National Reconstruction Fund will be administered by an independent board with the Government setting its mandate to drive investment.